Annual Report 2023

77. Details on the Amount Relating to the Annual Remuneration Paid as a Whole and Individually to Members of the Company’s Board of Directors, Including Fixed and Variable Remuneration and as Regards the Latter, Reference to the Different Components That Give Rise to Same

The gross remuneration of the members of the Board of Directors, paid by the Company during 2023, totalled 3,302,000 euros, corresponding to 1,440,000 euros of fixed remuneration, 882,000 euros of variable remuneration and 980,000 euros of ordinary contributions to the retirement pension plan.

In the chart below reference is made, pursuant to paragraph 2 of Art. 26-G PSC, to the gross remuneration paid individually to the Members of the Board of Directors:

 

 

Remuneration Paid (euros)

Director

 

Fixed Component

 

Variable Component1

 

Retirement Pension Plan

Pedro Soares dos Santos

 

490,000

 

882,000

 

980,000

Andrzej Szlęzak

 

105,000

 

-

 

-

António Viana-Baptista

 

100,000

 

-

 

-

Artur Stefan Kirsten

 

100,000

 

-

 

-

Clara Christina Streit

 

100,000

 

-

 

-

Elizabeth Ann Bastoni

 

100,000

 

-

 

-

Francisco Seixas da Costa

 

100,000

 

-

 

-

José Soares dos Santos2

 

-

 

-

 

-

Maria Ángela Holguín Cuéllar

 

100,000

 

-

 

-

Natalia Anna Olynec

 

105,000

 

-

 

-

Sérgio Tavares Rebelo

 

140,000

 

-

 

-

1

Annual variable remuneration fixed and paid in 2023, following the performance assessment for the year 2022

2

Waived the remuneration for the entire term of office.

In the following charts, the provisions of Article 26-G CVM are complied with, with reference to the disclosure of the total remuneration earned by the Members of the Board of Directors, including the amounts paid by subsidiary companies referred to in point 78.

In the chart below reference is made, pursuant to paragraph 2 of Art. 26-G PSC, to the relative proportion of each of the remuneration components, considering the gross total amounts paid individually to the Members of the Board of Directors:

 

 

Remuneration Paid (% of annual total)

Director

 

Fixed Component
(%)

 

Variable Component1
(%)

 

Retirement Pension Plan
(%)

Pedro Soares dos Santos

 

28.57

 

51.43

 

20.00

Andrzej Szlęzak

 

100

 

-

 

-

António Viana-Baptista

 

100

 

-

 

-

Artur Stefan Kirsten

 

100

 

-

 

-

Clara Christina Streit

 

100

 

-

 

-

Elizabeth Ann Bastoni

 

100

 

-

 

-

Francisco Seixas da Costa

 

100

 

-

 

-

José Soares dos Santos2

 

-

 

-

 

-

Maria Ángela Holguín Cuéllar

 

100

 

-

 

-

Natalia Anna Olynec

 

100

 

-

 

-

Sérgio Tavares Rebelo

 

100

 

-

 

-

1

Annual variable remuneration fixed and paid in 2023, following the performance assessment for the year 2022

2

Waived the remuneration for the entire term of office.

In the charts below is provided the information required under the terms of paragraph 2 of Art. 26-G PSC, i.e., the annual variations of the gross remuneration amounts paid individually by the Company, and by the companies referred to in point 78., to the Members of the Board of Directors, as well as of the average remuneration paid to full-time employees of the Company in equivalent terms, in the last five years, and the performance indicators verified:

Chairman & CEO

 

2018

 

2019

 

2020

 

2021

 

2022

 

2023

Pedro Soares dos Santos

 

Fixed Remuneration (€)

 

630,000

 

685,000

 

700,000

 

910,000

 

1,160,000

 

1,400,000

 

Variable Remuneration (€)1

 

990,000

 

1,080,000

 

1,400,000

 

1,550,000

 

1,820,000

 

2,520,000

 

Ordinary Contributions to Pension Plan (€)

 

283,500

 

306,396

 

476,875

 

615,000

 

740,833

 

980,000

 

Total Remuneration including Ordinary Pension Plan Contributions (€)

 

1,903,500

 

2,071,396

 

2,576,875

 

3,075,000

 

3,720,833

 

4,900,000

 

% Change

 

-

 

8.8

 

24.4

 

19.3

 

21.0

 

31.7

 

Extraordinary Contribution to Pension Plan2 (€)

 

-

 

-

 

-

 

9,300,000

 

-

 

-

 

Total Remuneration including Ordinary Pension Plan Contributions and Extraordinary Contribution (€)

 

1,903,500

 

2,071,396

 

2,576,875

 

12,375,000

 

3,720,833

 

4,900,000

 

% Change

 

-

 

8.8

 

24.4

 

380.2

 

-69.9

 

31.7

1

Variable Remuneration paid in a specific year is related to the previous year performance.

2

Extraordinary contribution to the Pension Plan awarded in 2021 by decision of the Remuneration Committee to correct the identified deviation.

Non-Executive Directors

 

2018

 

2019

 

2020

 

2021

 

2022

 

2023

Andrzej Szlęzak

 

Fixed Remuneration (€)

 

133,000

 

123,000

 

133,000

 

133,000

 

149,000

 

165,000

 

% Change

 

-

 

-7.5

 

8.1

 

0

 

12

 

10.7

António Viana-Baptista

 

Fixed Remuneration (€)

 

80,000

 

80,000

 

80,000

 

80,000

 

100,000

 

100,000

 

% Change

 

-

 

0

 

0

 

0

 

25

 

0

Artur Stefan Kirsten

 

Fixed Remuneration (€)

 

80,000

 

80,000

 

80,000

 

80,000

 

100,000

 

100,000

 

% Change

 

-

 

0

 

0

 

0

 

25

 

0

Clara Christina Streit

 

Fixed Remuneration (€)

 

80,000

 

80,000

 

80,000

 

80,000

 

100,000

 

100,000

 

% Change

 

-

 

0

 

0

 

0

 

25

 

0

Elizabeth Ann Bastoni

 

Fixed Remuneration (€)

 

-

 

80,000

 

80,000

 

80,000

 

100,000

 

100,000

 

% Change

 

-

 

-

 

0

 

0

 

25

 

0

Francisco Seixas da Costa

 

Fixed Remuneration (€)

 

80,000

 

80,000

 

80,000

 

80,000

 

100,000

 

100,000

 

% Change

 

-

 

0

 

0

 

0

 

25

 

0

José Soares dos Santos

 

Fixed Remuneration (€)

 

-

 

80,000

 

-

 

-

 

-

 

-

 

% Change

 

-

 

-

 

n/a1

 

-

 

-

 

-

Maria Ángela Holguin Cuéllar

 

Fixed Remuneration (€)

 

-

 

100,000

 

130,000

 

130,000

 

144,000

 

160,000

 

% Change

 

-

 

-

 

30

 

0

 

10.8

 

11.1

Natalia Anna Olynec

 

Fixed Remuneration (€)

 

-

 

-

 

-

 

-

 

105,000

 

105,000

 

% Change

 

-

 

-

 

-

 

-

 

-

 

0

Sérgio Tavares Rebelo

 

Fixed Remuneration (€)

 

220,000

 

190,000

 

220,000

 

220,000

 

228,000

 

260,000

 

% Change

 

-

 

-13.6

 

15.8

 

0

 

3.6

 

14

1

The variation from 2019 to 2020 is not applicable due to the renounce of remuneration presented by the Director.

Company Associates

 

2018

 

2019

 

2020

 

2021

 

2022

 

2023

Total Remuneration1

 

FTE Average Remuneration (€)2

 

102,140

 

102,787

 

105,857

 

106,928

 

126,211

 

130,190

 

FTE Average Remuneration – % Change3

 

-

 

4.7

 

6.5

 

5.6

 

24.5

 

16.1

1

Includes fixed and variable remuneration earned, as well as includes annual contributions to the Pension Plan.

2

For the average total remuneration are considered employees who are active, full-time and performing duties throughout the year under review.

3

Annual variations were calculated on a constant basis of employees between year N and N-1, in order to exclude from this indicator the effects of new hires in year N.

Jerónimo Martins Group Performance

 

2018
(%)

 

2019
(%)

 

2020
(%)

 

2021
(%)

 

2022
(%)

 

2023
(%)

Key Performance Indicators

 

Sales Growth
(at constant exchange rates)

 

6.8

 

8.4

 

6.7

 

10.7

 

23.9

 

18.1

 

EBITDA growth1
(at constant exchange rates)

 

3.9

 

9.3

 

0.5

 

17.5

 

23.7

 

13.0

 

Δ Ordinary Net Earnings attributable to JM1

 

3.2

 

8.9

 

-10.2

 

30.1

 

34.2

 

18.7

 

Pre-tax Return on Invested Capital1

 

28.5

 

30.5

 

29.7

 

42.6

 

57.0

 

58.0

1

The values of these indicators exclude the application of the IFRS 16 accounting standard (in order to be fully comparable over the 5-year period). The ordinary net result refers to the consolidated amount attributable to Jerónimo Martins, SGPS, SA.

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